Labour-Sponsored Venture-Capital Tax Credit
This tax credit is designed to assist small and medium-sized Nova Scotia businesses and co-operatives in obtaining equity financing by offering a personal income tax credit to individuals investing in registered labour-sponsored venture capital corporations (LSVCCs). An LSVCC is: A corporation that has been sponsored by a trade union for the purpose of assisting eligible businesses in creating and maintaining employment Raises venture capital by issuing shares to the public Capital raised is invested in eligible businesses through equity financing or, in certain cases, subordinate debt obligations
Grant Deadline
Deadline not available
Funding Amount
$2,000
Type of Grant
Tax Credit, Venture Capital
Sectors
All Sectors
Demographics
Incorporation
For Profit
Perks
Region Restriction
This grant is restricted to whole of Canada
Keywords
Age Restriction
This grant is age restricted from 19 to 100
Eligibility and Requirements
Eligible Investors
Available to residents of Nova Scotia who are over 19 year of age and who have valid reasons for making the investment, other than simply obtaining the tax credit.
Eligible Investments
Must be newly issued common voting shares of the corporation that are non-redeemable, non-convertible and are not restricted in profit sharing or participation upon dissolution
The shares cannot be eligible for any other tax credit or deduction allowed under the Income Tax Act, except as a deduction for RRSP purposes or a federal LSVCC tax credit.
Grant Application website
Contact
Nova Scotia Department of Finance and Treasury Board
PO Box 187,
1723 Hollis St.,
Halifax NS B3J 2N3
tel:902-424-5554
fax: 902-424-0635